Franklin Resources Inc. Reduces Stock Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Franklin Resources Inc. trimmed its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 30.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,634 shares of the company’s stock after selling 15,031 shares during the period. Franklin Resources Inc.’s holdings in Palmer Square Capital BDC were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PSBD. Marble Harbor Investment Counsel LLC purchased a new stake in Palmer Square Capital BDC during the second quarter worth approximately $315,000. Renaissance Technologies LLC purchased a new position in Palmer Square Capital BDC in the second quarter valued at approximately $173,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Palmer Square Capital BDC during the 3rd quarter worth approximately $792,000. Confluence Investment Management LLC lifted its position in shares of Palmer Square Capital BDC by 22.1% during the 3rd quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock worth $1,697,000 after buying an additional 18,842 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Palmer Square Capital BDC by 7.3% in the 3rd quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after buying an additional 25,951 shares in the last quarter. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Price Performance

Shares of NYSE:PSBD opened at $15.41 on Tuesday. Palmer Square Capital BDC Inc. has a 12 month low of $15.27 and a 12 month high of $17.12. The firm has a market capitalization of $503.09 million and a P/E ratio of 8.03. The company’s fifty day moving average price is $15.89 and its 200 day moving average price is $16.15.

Palmer Square Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.90%. The ex-dividend date is Friday, December 27th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 87.50%.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.